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I have a friend that owns a car dealership. I'm selling my truck that I just bought 6 months ago, so I obviously don't have it paid off. I asked my friend how this works and he gave me 2 forms. I have a Bill of Sale that says "Vehicle/vellel Transfer and Reassignment Form" on top and the second form says "Authorization for Pay-Off". This form has the company with the title to send it to the new owner once they get paid. He said you call the company to get the pay off amount. How it gets paid is decided by the buyer and seller. I would have the seller pay their part (if they are suppose to), get the quote for the rest of the payoff, and send in the rest directly to the company.
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